PARALLEL CHANNEL with Horizontal Support Resistance Level
Break and Retest of Support Resistance Line. Trade consistently using Price Action. All that is needed to Trade Forex is Horizontal Key Levels (Horizontal Support and Resistance Levels).
Trade consistently using Horizontal Support and Resistance Level with a technical chart pattern like the Pennant, Rising/Falling Wedge, and Ascending/Descending Channel.
Trade consistently using Horizontal Support and Resistance Level with a candlestick pattern like the Pin Bar and the Engulfing Bar Candlestick.
Trade consistently using Horizontal Support and Resistance Level combining a technical chart pattern with candlestick patterns.
Focus on the HIGHS and LOWS. Higher Highs and Higher Lows. Lower Highs and Lower Lows.
And focus on the Daily Close. Focus on the BREAK and RETEST of Support and Resistance on a Daily Close basis.
For confluence use diagonal support and resistance (Trend Lines), Exponential Moving Averages - Dynamic Support Resistance (EMA 10 EMA 20), and Fibonacci Retracement.
For Targets use Measured Objective, Measured Moves, and Fibonacci Extensions.
Trade the Monthly Chart, Weekly Chart, Daily Chart, H4 Chart Time Frames. Emphasis on the Daily Chart. Combining Daily and Weekly Charts Analysis for Trades on the Daily Chart will improve Trading Performance.
"Forex Journal"
Trade consistently using Horizontal Support and Resistance Level with a technical chart pattern like the Pennant, Rising/Falling Wedge, and Ascending/Descending Channel.
Trade consistently using Horizontal Support and Resistance Level with a candlestick pattern like the Pin Bar and the Engulfing Bar Candlestick.
Trade consistently using Horizontal Support and Resistance Level combining a technical chart pattern with candlestick patterns.
Focus on the HIGHS and LOWS. Higher Highs and Higher Lows. Lower Highs and Lower Lows.
And focus on the Daily Close. Focus on the BREAK and RETEST of Support and Resistance on a Daily Close basis.
For confluence use diagonal support and resistance (Trend Lines), Exponential Moving Averages - Dynamic Support Resistance (EMA 10 EMA 20), and Fibonacci Retracement.
For Targets use Measured Objective, Measured Moves, and Fibonacci Extensions.
Trade the Monthly Chart, Weekly Chart, Daily Chart, H4 Chart Time Frames. Emphasis on the Daily Chart. Combining Daily and Weekly Charts Analysis for Trades on the Daily Chart will improve Trading Performance.
"Forex Journal"